MightyRiverPower raises $100M in wholesale bond issue to repay debt

Wed, 27 Feb 2013

Feb. 27 (BusinessDesk) - MightyRiverPower, the first state-owned enterprise slated for a partial sale this quarter, has raised $100 million from institutional investors in two wholesale bond issues to repay debt. The electricity generator and retailer sold $75 million of six-year bonds paying annual interest of 5.029 percent and $25 million of 10-year bonds paying 5.793 percent annually, it said in a statement. The bonds are part of a refinancing programme and the proceeds will be used for general corporate purposes. As at Dec. 31, MRP hel...

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